WEDNESDAY, JANUARY 6, 1982
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EFFORT TO STAMP OUT +LOAN SHARK ING+
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THE GOVERNMENT IS DETERMINED TO DO ALL IN ITS POWER TO STAMP OUT +LOAN SHARK ING+, THE ATTORNEY GENERAL, THE HON J.C. GRIFFITHS, SAID TODAY.
REPLYING TO A QUESTION BY THE HON ANDREW SO, MR GRIFFITHS SAID THE REGISTRAR GENERAL, THE POLICE AND INTERESTED BODIES WERE REVIEWING THE WHOLE OPERATION OF THE MONEY LENDERS ORDINANCE AND WOULD THEN DEAL WITH ANY WEAKNESSES IN IT.
THE ORDINANCE UNDOUBTEDLY HAD A BENEFICIAL EFFECT BY TIGHTENING CONTROL OVER MONEY-LENDERS GENERALLY AND THUS DIMINISHING THE EXTENT OF +LOAN SHARKING+, HE SAID.
MR GRIFFITHS SAID CERTAIN DETAILED PROBLEMS OVER THE OPERATION OF THE ORDINANCE HAD COME TO LIGHT WHILE THE ORDINANCE STARTED WORKING. +FOR INSTANCE, IT HAS BEEN SHOWN IT IS NECESSARY TO EXTEND THE LIST OF EXEMPTED ORGANISATIONS TO ENCOMPASS SUCH ORGANISATIONS AS FOREIGN BANKS, SUCH AS MEMBERS OF THE
INTERNATIONAL UNION OF CREDIT AND INVESTMENT INSURERS (THE BERNE UNION) AND ALSO CERTAIN ORGANISATIONS SET UP TO GUARANTEE FINANCE FOR EXPORT AND FOR TRADE, HE SAID.
AS TO THE EFFECTIVENESS OF THE ORDINANCE MUCH WOULD DEPEND UPON THE SENTENCING POLICY ADOPTED BY THE JUDICIARY IN THIS FIELD, HE ADDED.
MR GRIFFITHS SAID ALSO THAT 59 SEARCH WARRANTS HAD BEEN ISSUED SINCE THE ENACTMENT OF THE ORDINANCE AND 11 OF THESE WERE SUBSEQUENTLY CANCELLED.
THERE WERE 48 PROSECUTIONS, WITH 13 CONVICTIONS, THREE ACQUITTALS AND 32 CASES AWAITING TRIAL.
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